Meade H. Lewis, CEO“3.6 trillion cubic feet of natural gas escapes into the atmosphere every year. These leaks represent $30 billion in lost revenue. The BP Deepwater Horizon spill – one of the worst in U.S. history – cost the company $61.6 billion dollars.” – Forbes.
Besides the loss of money, a pipeline leak can devastate the natural environment, pumping thousands of gallons of hydrocarbons onto the earth, causing decades of negative ramifications for the area. And as age is deteriorating the oil and gas pipelines, this industry is experiencing an increase in the frequency of leaks every year. The traditional pipeline leak detection systems are no longer good enough to protect the environment and prevent capital losses due to leakage. It has hence become of viable importance for oil and gas companies to adopt the latest integrated technologies to monitor and maintain essential pipelines effectively and combat the ‘old school of thoughts.’ Understanding this growing need to keep the energy industry, the key driver of the economy, up and running, Pennsylvania based mIQroTech developed an advanced solution using cutting-edge technology to equip companies with the intelligence needed to accurately predict the leaks before they happen. “By focusing on leak prediction using the Artificial Intelligence (AI) and the Internet of Things (IoT) technology, it is now possible to create cleaner, safer, and more cost-effective pipeline monitoring and maintenance systems - for the 2.6 million miles of pipeline in America,” says Meade H. Lewis, CEO of mIQroTech.
Having had the experience of being a CTO in multiple oil and gas firms, Lewis very well understood the value of innovation in industry and therefore developed a system that could detect every pipe independently. The firm’s mIQroAware devices give companies the opportunity to embrace innovation that reduces environmental impact on the world, while simultaneously amplifying monitoring and maintenance efficiency.
Using the latest in IoT, sensor, and AI, mIQroTech predicts pipeline leaks before they happen with a projected 96 percent accuracy
Using the latest in IoT, sensors, and AI, mIQroTech predicts pipeline leaks before they happen with a projected 96 percent accuracy. The firm’s IoT devices have processors that capture critical data such as pressure, temperature, vibration, density, sound, and corrosion up to 42 times every second. The pipeline leak detection technology then processes the data and sends it wirelessly to a proprietary database. Once the data arrives, the firm with the help of AI examines it, looking for anomalies, threats, and inconsistencies. If any are discovered, email and text alerts are sent to stakeholders in a matter of seconds. The AI learns and can also predict the longevity of pipelines over time. According to Lewis, the firm can not only save money for their customers but also protect the environment and the frontiers. “Our solution is not only the most powerful but the best-priced pipeline monitoring system,” adds Lewis.
Through the years, innovation and delivering cheaper, cleaner oil and gas industry has been the focus at mIQroTech. The firm has partnered with some of the largest companies in oil and gas industry and has also been named as one of the most innovative companies in this arena. Currently, the firm is marketing its solution in the midstream oil and gas market and is working toward making its presence felt overseas. “While continually providing the solution to accurately detect oil and gas risks using advanced integrated technology, mIQroTech focuses not only on today but on what to do tomorrow,” concludes Lewis.